China's Ant Financial to invest $200 mln in Korea's Kakao Pay

Reuters Staff

SHANGHAI Feb 21 (Reuters) - China's Ant Financial will
invest $200 million in Kakao Pay, the mobile payment subsidiary
of South Korean messaging platform giant Kakao Corp,
the two firms said in a joint statement on Tuesday.

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The investment is part of a broader global push by Ant
Financial, the world's largest financial technology company,
after it announced an $880 million deal for U.S. money-transfer
firm MoneyGram International last month.